Message from the CBBC Chief Executive
CBBC China Consumer 2024 and Autumn Reception
China Consumer 2024 took place on 14th October in London
Peter Burnett OBE BBS
Chief Executive, China-Britain Business Council
I was delighted to welcome a record number of delegates to our third China Consumer conference on Monday 14th October in London. CBBC leads this space as the only organisation offering a deep dive into the habits and desires of an ever-evolving, ever innovating group of consumers - set to influence consumer behaviours across the globe.
We heard from expert speakers including Erwan Rambourg, Global Head of Consumer & Retail Research, HSBC, on whether Chinese consumers are still buying luxury - yes, they are but it is dependent on their confidence in the future. That confidence has waned in recent months but the future is still bright he argued.
Erwan Rambourg, Global Head of Consumer & Retail Research, HSBC and Zarina Kanji, Managing Director for UK & Europe, WPIC Marketing + Technologies deliver keynote speeches at China Consumer 2024.
Our Headline Sponsor, WPIC had done bespoke research into four particular consumer tribes:
The Aesthetics Tribe consists of health and beauty consumers, a sector valued at £232 billion. Post-COVID, sales of makeup have surged 64% year-on-year on Douyin. Brands like Suva Beauty are thriving with vibrant colour cosmetics, while fine jewellery and sun care have risen by 252% and 61%, respectively. Increasingly, AI influencers are instrumental in reaching young consumers through 24/7 livestreaming.
Homemakers prioritise family and home, with a sector now worth £9.1 billion. These consumers favour sustainability and quality, with the home hygiene and appliance markets growing by 12% year-on-year to £53 billion. Brands like Vitamix are capitalising on this trend by targeting busy mothers, while micro-influencers are becoming trusted voices over traditional key opinion leaders (KOLs).
Pet Parents are a burgeoning tribe, as the Chinese pet market has grown 22% year-on-year, reaching £75 billion. With over 220 million pets in more than 100 million households, there remains significant room for growth in pet care products. Tmall dominates this market with a 70% share.
Vitality Seekers focus on health and wellness, a sector projected to reach £39 billion, driven by urban residents engaged in sports and outdoor activities. Social media platforms like Xiaohongshu amplify shared experiences, resulting in an 89% increase in related sales on Douyin. Brands such as Lululemon are seeing success, with the wellness sector expected to double to £69 billion by 2030.
Their findings are further explored in WPIC's market research report: 'Profiling China’s Fastest-Growing Consumer Segments' which was launched during the event.
Please scan the QR code below to download
The day featured Panel Sessions exploring a wide range of topics relevant to consumer brands in China.
Our Consumer team, led by Antoaneta Becker and Ran Guo hosted sessions exploring these tribes further as well as looking at how emotional marketing is taking the place of traditional brand-based marketing on social platforms. Our speakers included representatives from Wedgwood Fiskars Group, Brompton Bicycle, Holland and Barrett, JLR, Grass & Co, Chinese brand Melt Season and WPIC.
We were delighted to have Jing Zhang, former Editor in Chief of Jing Daily and Jing Meta leading a discussion with Alibaba, Totemist and Popmart on how brands are finding new ways to blend the physical and digital worlds, creating a “phygital” shopping experience.
Dedicated Breakout Sessions took place in the afternoon of the event.
Afternoon breakouts covered topics including:
Hong Kong as a centre for experiential retail and consumer tourism;
Sustainability from consumer and customer perspectives;
How to develop a China strategy in the “new normal”;
Unlocking China’s Social Commerce Potential through the Douyin Playbook.
Barry Delehanty, Director of Commercial Sales & Convenience, The John Lewis Partnership took part in a Fireside Chat.
I was also honoured to host two fireside chats with Barry Delehanty, Director of Commercial Sales & Convenience, The John Lewis Partnership who spoke about Waitrose’s ambitions for the market, and Elvis Liu, Global Partner, Fosun who discussed their growing brand portfolio and plans to introduce more Chinese brands into the UK market.
Elvis Liu, Global Partner, Fosun speaking at the event.
China Consumer 2024 concluded with CBBC’s Autumn Reception, which offered a fantastic platform for high-level networking with the UK-China business community and an opportunity to celebrate the achievements of CBBC and its members. We heard from Mme Bao Ling, Minister for Economic and Commercial Affairs at the Chinese Embassy and Gareth Thomas, MP, Minister for Services, Small Business and Exports who shared his Secretary of State, Jonathan Reynolds' view that Britain needs to engage more with China - as well as enjoying a special Silk Road Sunset cocktail using Hayman’s Gin.
Mme Bao Ling, Minister for Economic and Commercial Affairsat the Chinese Embassy made a speech at the Autumn Reception.
Of course, the day would not have been possible without the generous support of our sponsors - WPIC Marketing + Technologies, InvestHK, HSBC, ARgENTUM Apothecary, Bank of China, Cranswick plc and Hayman’s Distillery.
It was a day full of content - too much to cover here - for a full read out of the conference please scan the QR code below.
If you have any questions or enquiries that we can support you with please don't hesitate to get in touch via Enquiries@cbbc.org.
We look foward to hopefully seeing you soon at one of our many events.
Kind regards,
Peter Burnett OBE BBS
Chief Executive, China-Britain Business Council
www.cbbc.org
The China-Britain Business Council (CBBC) is the UK’s national business network promoting trade and investment with China. We have been at the heart of the UK-China relationship for 70 years and are widely recognised as the independent voice of British businesses working with China. Our objective is to support the growth of British trade and investment with China and Chinese companies expanding and investing in the UK. Our diverse membership includes leading UK companies and universities, many of the UK’s most dynamic SMEs, and an ever-increasing number of Chinese companies exporting to and investing in the UK.
英中贸易协会（CBBC）是英国促进对华贸易和投资的国家级商业贸易网络。70年以来，我们一直处在行动的核心位置，积极参与两国在每个行业和地区的合作，被广泛认为是英国企业与中国合作的独立声音。我们的目标是支持英国对华贸易和投资的增长，以及中国企业在英国的扩张和投资。我们的会员包括众多英国领先的公司与知名大学、英国最具活力的中小企业，以及越来越多向英国出口和在英国投资的中国企业等。
